In this episode, Jason Dinesen breaks down three big updates affecting accountants, tax preparers, and small business owners in Fall 2025:

🔹 1. Draft W-9 Changes

The IRS has released a draft of Form W-9 that could significantly change how sole proprietors and single-member LLCs report their Taxpayer Identification Numbers. Jason explains:

What’s in the draft (and what’s not official yet)

Why sole proprietors might soon be required to use their Social Security Number

How to keep tabs on the official IRS W-9 page for updates

🔹 2. 1099-K Thresholds and the “Big Beautiful Bill”

The so-called “Big Beautiful Bill” rolled back the $600 threshold for third-party payment reporting. Jason discusses:

Why the $20,000 / 200-transaction rule is back

How this impacts gig workers, small sellers, and payment apps like Venmo and PayPal

Whether the IRS really gained anything from the lower threshold

🔹 3. The Tax Benefit Rule Returns

With the new $40,000 SALT cap and permanent standard deduction increases, more taxpayers may again face taxable state refunds. Jason explains what the tax benefit rule is, how it works, and why it’s suddenly relevant again.

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Jason’s back with a grab bag of timely tax and accounting updates pulled straight from his teaching sessions and client questions.

In this episode of Accounting in the Wild, you’ll hear about:

• Big Beautiful Bill (BBB) — the brand-new overtime pay deduction, how “qualifying overtime” is defined under the Fair Labor Standards Act, and why W-2s aren’t changing in 2025 (but employers still have new reporting duties).
• Trump Accounts — what they are, how they work, and the unanswered questions around the $2,500 employer contribution rule.
• Electronic filing of 1099s — the difference between the IRS FIRE and IRIS systems, plus when using a third-party provider might make sense.
• 1099-K reporting threshold — BBB restores the 200 transactions / $20,000 limit.
• Contractor vs. employee — why the Department of Labor’s interpretation just shifted back to a pre-Biden stance.

Whether you’re a tax pro, CPA, EA, or just curious about the latest changes, this episode is packed with real-world explanations you can put to use immediately.

🎓 Earn CPE credit for listening to this program through our sponsor My CPE One: https://my-cpe.com (make sure to include the hyphen — my-cpe.com).

It’s summertime... but there’s still tax planning to do.

In this solo episode of Accounting in the Wild, Jason Dinesen breaks down what tax professionals (and taxpayers!) need to know right now — before key deadlines and credits disappear.

In this episode:

• ⚡ Energy credits are going away — EV, solar, appliances, and more
• ✉️ IRS will no longer accept paper checks after September 30
• 🏕️ Day camps and the daycare credit: what counts?
• 💸 Overtime and tip deductions — where do they go on the return?
• 🚗 Also the new deduction for certain car loan interest deduction -- where does it go?
• 🧾 Written Information Security Plans (WISPs) — are you in compliance?
• 🧓 Did Congress eliminate tax on Social Security? Nope — here's what they actually did

Timestamps:
00:00 – Welcome
00:27 – Expiring energy credits (EV, solar, windows)
04:34 – Section 179D update for commercial projects
06:48 – IRS ends paper checks (big change alert!)
10:35 – Day camps and the child care credit
12:49 – Daycare credit changes under BBB (starting 2026)
14:32 – Dependent care FSAs increase to $7,500
16:49 – Tip/overtime deduction ≠ AGI deduction
18:53 – Car loan interest deduction: the rules
20:48 – Written data security plans (WISP)
22:37 – Social Security taxation myths
24:47 – Final thoughts

CPE Credit Available:
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Hosted by: Jason Dinesen, EA
Founder of Dinesen Media Ventures | Tax Pro | Educator | Storyteller

Brought to you by: MyCPE.com — offering 15,000+ hours of online CPE & CE for CPAs, EAs, and tax pros.

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